Making an informed decision is very important when you are purchasing flats in Haridwar because anyone can invest in properties or land, but on the long run, only a few generate exceptional returns. A right buy can take your real estate portfolio to the next level.
After the COVID-19 pandemic, a large number of the population has shown an interest in buying plots in Uttarakhand near Ganga. Luckily, the state govt. is also promoting its real estate sector by offering various kinds of tax rebates and offers. Some are applicable exclusively for Uttarakhand people while others are available for all Indians.
Haridwar is currently in its developing phase and many projects are currently taking place in the city. Moreover, projects like Haridwar One and Emerald Riviera make people believe how relaxing and peaceful it would be to live in Haridwar.
However, buying new flats in Haridwar can be a challenging task for people looking for higher property returns and high-end quality construction. So, before you dive into Haridwar real estate sector, consider these important details.
Location and Connectivity
Prime Locations in Haridwar
Whenever you are considering settling down in Haridwar, the property’s location can be a game-changing decision. In Haridwar, the areas near Har Ki Pauri, Kankhal, and Ghawali, can provide high returns if you purchase any residential and commercial property. For any person who is interested in a holiday home or retirement home, a premium location is very important.
Here senior citizens can visit various temples like Mansa Devi Mandir and Chandi Devi Mandir. Moreover, investors can buy land or flats in Haridwar for the hospitality business to earn passive income.
Connectivity and Accessibility
Your apartment should have good connectivity for your day-to-day lifestyle. Always check the availability of public transport, proximity to highways, and accessibility to the railway station. Any property that has good connectivity can benefit you and your family in a lot of ways. Also make sure you can access schools, hospitals, and shopping centers from your flats in Haridwar.
Locations like Har Ki Pauri, Patanjali Yogpeeth, and Shyampur are good options to buy a luxurious property. The circle of Har Ki Pauri and nearby places are about: Rs 60,000 – Rs 80,000 per sqm (talking about residential property).
Developer’s Reputation
Track Record and Past Projects
Always research prospective builder and check their previously delivered projects. Evaluate the documents and get reviews from their existing clients and home homes. A well-established builder with a good track record is more likely to deliver quality construction on time.
Always consider an experienced builder or company that has delivered some luxurious projects in Haridwar. ETH Infra Pvt. Ltd. is one the most trusted builders of Haridwar and has successfully delivered more than 3 luxurious societies. Their current project Haridwar One is going to be the new landmark of Haridwar with modern amenities like no other.
Legal Compliance and Certifications
Conduct proper document verification of the flat you are going to purchase in Haridwar. The main authorities from which your builder needs to get certified are RERA (Real Estate Regulatory Authority) and HRDA (Haridwar-Roorkee Development Authority). Every builder must have their RERA and HRDA number, only then consider purchasing that property.
Property Size and Layout
Flat Size and Configuration
Identify your space requirements and choose your flats in Haridwar accordingly. In general, mostly people opt for a 2BHK, and 3BHK, apartment which provide larger space that you will need in the future. Also, evaluate the flat’s layout and design to ensure it matches your lifestyle.
Carpet Area vs. Built-up Area
Know the difference between carpet area and Built-up Area!
What is a Carpet Area ?
For better understanding, the Carpet Area refers to the actual usable area of the property disclosed by the developer under the RERA Act. If you’re looking to buy a new piece of land or investing in a Haridwar property then you must check out the carpet area of the property.
What is built-up area
The entire area of the registered property, including the carpeted areas, balconies, walls, hallways, and other spaces, is known as the “built-up area.” The wall thickness, which is typically 10–20% greater than the carpet area, is also included in the built-up area.
Amenities and Facilities
In-Flat Amenities
Always look for amenities that are provided in the flat, like modular kitchens, balconies, and storage spaces, etc. These features improve your living experience and add value to your investment. Many projects like Haridwar One and Emerald Emerad Rivera are providing high-end facilities like a sky-walkway, clubhouse, and swimming pool.
Common Facilities in the Building
Other than the in-built facilities of your flats in Haridwar, check the common facilities available in the building or society. Such as parking spaces, elevators, security systems, power backup, and recreational activities. These facilities can greatly enhance your quality of life and are essential for a comfortable living environment.
Future Growth and Development
Prospects for Future Appreciation
Not just as a real estate investor but as a homebuyer too you should analyze the return on your real estate investments. Whenever you are thinking you thinking of purchasing flats in Haridwar, always consider that area which has a high property appreciation rate. Later, you can sell out the property or rent it out to earn a massive income.
Future Development Plans and Policies
Research the local regulations and development plans of the Uttarakhand govt to develop Haridwar. Ensure that the area around your flat does not come under unwanted industrial development or any other changes that could negatively impact the property’s value or living conditions.
Moreover, many development projects like pod taxis taxies, the Har Ki Pauri corridor, and ring road development projects have been approved by the govt. So, this is the right to buy more luxurious flats in Haridwar before the property prices go skyrocket.
Legal Documentation and Verification
Title Deed and Ownership Documents
The flat in Haridwar should be clear from any illegal activity and have a clear title and the ownership documents are in order. Verify the title deed to confirm that the seller has the legal right to sell the property. Consult a lawyer if necessary to go through the legal check of the builder.
Sale Agreement and Possession Date
Many builders do not disclose the official possession date or the date of project completion. Carefully review the sale agreement and make sure that all the terms and conditions are clearly mentioned. As a buyer, it’s your right to check the possession date claimed by the builder and ensure that there are no future delays in the delivery.
Conclusion
The investor and homebuyers both want a profitable and comfortable living space as an investment. Those who are planning to purchase new flats in Haridwar are blessed with some wonderful areas to build their home. However, know your legal rights and responsibilities as a buyer and check every aspect of the property.
To sum up the article, the major factors that you should check before buying a flat in Haridwar are location, the developer’s reputation, budget, property size, amenities, future growth prospects, and legal documentation. By looking at these factors, you can make an informed decision that aligns with your needs and financial goals.
